Actuarial Science & it’s various Study Programs

By Akshay Sharma August 1, 2019 Education

Actuarial Science is the study of risks. It is the science to get access and control the risk in the field of economy. If you are looking for top Actuarial Science Universities, before that you must know everything about this field of study and what comes with. Actuarial Science is the only study that can guard the humankind form any future bad event, or devastation, from occurring.

Scope of Actuarial Science & its demand:

First, being an Actuary is a very respectable job in the field of business and finance. This field requires a lot of hard work and a dedicated chase towards your end goals. Many of the universities offer courses and certifications in Actuarial Science. An Actuary should have knowledge about maths, economics, and statistics.

In countries like the USA or Canada, there is a very high pay as well as demand for the professionals in Actuarial Science. All you need is to go for the best university to study actuarial science to kick start your career in this field.

The government body The Actuarial Society of India or Institute of Actuaries of India was founded in 1944 and it is a member of IAI that organizes the certificates, and associate level examinations for the candidates interested in taking up Actuarial Science as a course.

Admission Criteria for top Actuarial Science Universities:

There is an entrance test called as Actuarial Common Entrance Test which is set as one of the eligibility criteria for admissions in the top Actuarial Science Universities.
The candidate needs to qualify the entrance exam by IAI and have a minimum of 3 years of practical work experience.
Those who qualify this will get admission to one of the colleges under IAI.

Skills Required and Top Recruiters:

A student interested in Actuarial Science needs to have an in-depth knowledge of mathematics and statistics. Good communication skills with a good sense of business is very necessary. Being a fresher the income of an Actuary is Rs. 3 Lacs to Rs. 5 Lacs per annum. Some of the top recruiters in this field in top Actuarial Science Universities are:

Max Bupa Health Insurance
IDBI
Towers Watson
E & Y
Milliman
Future Generali
Swiss Re
And many more.

Courses provided by the top Actuarial Science Universities:

You can do B.Sc. in Actuarial Science
BA (Hons) in Insurance and Banking is one of the many fields in Actuarial Science.
B.Sc. in Actuarial and Financial Mathematics
Postgraduate diplomas in Actuarial Science
M.Sc. in Actuarial Science
Now you can also go for a Master’s in Business Administration (MBA) in Actuarial Science
Another one being the Master’s program in Insurance Business

People also call the professionals who study Actuarial Science a math genius who will save the world from future economic risks. DIT University is one of the top Actuarial Science Universities in India to get a professional degree in this field where you get the complete exposure.